Spray Engineering Devices Limited

₹355 - ₹355

Platform	Last Traded Price	Min Quantity
★★★★★	₹355	15

★★★★★

LTP:₹355

Min Qty:15

Strengths & Weaknesses

Strengths

Revenue Growth: SEDL achieved substantial revenue growth in the fiscal year, with revenue from operations reaching ₹5,47 Cr, up from ₹3,926.20 million in the previous year. This reflects a positive trend in its business operations.

Intellectual Property: Additionally, SEDL possesses a range of intellectual assets both domestically and internationally, providing the company with a competitive edge over its industry peers.

Strong Asset Base: The company has significant non-current assets, including property, plant, and equipment valued at ₹97.6 Cr, creating a solid foundation to support its ongoing and future operations.

Experienced Promoters: The company’s promoters bring nearly three decades of industry experience, gained through their involvement with SEDL and previous roles in the sugar sector.

Weaknesses

Increased Debt: Current liabilities increased, including a rise in borrowings, which may imply dependence on debt for capital, potentially impacting liquidity.

Dependence on Specialized Industries: The focus on sugar and allied industries may expose SEDL to sector-specific risks, such as fluctuations in demand for sugar processing equipment.

Balance Sheet	FY2024	FY2023	FY2022	FY2021
Equity Capital	22.58	22.58	22.43	22.43
Reserves and Surplus	100.69	48.32	14.76	-0.56
Total Equity	123.27	70.90	37.19	21.87
Long Term Borrowings	20.99	22.45	4.51	3.23
Other Long Term Liabilities	10.138	5.12	3.30	2.66
Total Non-Current Liabilities	31.128	27.57	7.81	5.89
Short Term Borrowings	54.26	36.35	14.60	19.89
Other Current Liabilities	93.52	129.35	124.76	77.29
Total Current Liabilities	147.78	165.70	139.36	97.18
Equity + Liabilities	302.17	264.17	184.4	124.94
Fixed Assets (incl. WIP)	91.99	67.53	26.95	24.13
Other Non Current Assets	5.63	8.77	2.54	5.41
Total NC Assets	97.62	76.30	29.49	29.54
Trade Receivables	86.8	60.08	42.90	30.59
Cash and Bank Balances	0.41	1.40	11.05	5.3
Other Current Assets	117.34	126.39	31.85	59.51
Total Current Assets	204.55	187.87	154.88	95.4
Total Assets	302.17	264.17	184.4	124.94

Profit & Loss	FY2024	FY2023	FY2022	FY2021
Net Revenue	547.34	392.62	214.94	110.69
Growth %	39.41%	82.66%	94.18%	0
Total Operating Expenses	459.12	335.88	193.17	98.38
Growth %	36.69%	73.88%	96.35%	0
Operating Profit	88.22	56.74	21.77	12.31
Operating Profit Margin %	16.12%	14.45%	10.13%	11.12%
Other Income	0.93	2.11	1.17	0.75
Finance Costs	9.89	8.07	5.05	5.92
Depreciation and Amortization Expense	4.93	3.85	2.13	2.47
Profit before Tax	74.33	46.93	15.76	4.67
Income Tax	21.18	12.21	0.43	0.02
Tax %	28.49%	26.02%	2.73%	0.43%
Profit After Tax	53.15	34.72	15.33	4.65
Growth %	53.08%	126.48%	229.68%	0
PAT %	9.71%	8.84%	7.13%	4.20%
EPS	23.19	15.21	6.79	2.06

Shareholding Pattern

Color	Shareholder	Holding
	Vivek Verma	53.99%
	Prateek Verma	26.31%
	Klondike Investments Ltd.	12.50%
	Others	7.20%

Fundamentals

Quick Insights

Revenue Growth: SEDL achieved substantial revenue growth in the fiscal year, with revenue from operations reaching ₹5,47 Cr, up from ₹3,926.20 million in the previous year. This reflects a positive trend in its business operations. Intellectual Property: Additionally, SEDL possesses a range of intellectual assets both domestically and internationally, providing the company with a competitive edge over its industry peers. Strong Asset Base: The company has significant non-current assets, including property, plant, and equipment valued at ₹97.6 Cr, creating a solid foundation to support its ongoing and future operations. Experienced Promoters: The company’s promoters bring nearly three decades of industry experience, gained through their involvement with SEDL and previous roles in the sugar sector.

Market Cap₹801.83 Cr

PE Ratio15.31

EPS₹23.19

Dividend Yield-

Book Value₹31.39 Cr

Debt/Equity0.83

Price/Book11.31

Price/Sales-

Industry PE-

Sales₹547.34 Cr

Profit After Tax₹53.15 Cr

Share Capital₹22.58 Cr

Shares Outstanding-

ISININE528I01015

SectorInnovative technology

SymbolSPRAYENGG

About Company

Spray Engineering Devices Limited (SEDL) was formed by merger of two partnership firms, namely Spray Engineering Devices (started in 1992) and C&C Systems in FY05. SEDL is promoted by Mr. Vivek Verma and Mr. Prateek Verma, having it’s cooperate office at Mohali, Punjab and three manufacturing units in Baddi, Himachal Pradesh, with an installed capacity of processing 50 tonnes sheet metal per day

Quick Insights

Revenue Growth: SEDL achieved substantial revenue growth in the fiscal year, with revenue from operations reaching ₹5,47 Cr, up from ₹3,926.20 million in the previous year. This reflects a positive trend in its business operations. Intellectual Property: Additionally, SEDL possesses a range of intellectual assets both domestically and internationally, providing the company with a competitive edge over its industry peers. Strong Asset Base: The company has significant non-current assets, including property, plant, and equipment valued at ₹97.6 Cr, creating a solid foundation to support its ongoing and future operations. Experienced Promoters: The company’s promoters bring nearly three decades of industry experience, gained through their involvement with SEDL and previous roles in the sugar sector.

Market Cap₹801.83 Cr

PE Ratio15.31

EPS₹23.19

Dividend Yield-

Book Value₹31.39 Cr

Debt/Equity0.83

Price/Book11.31

Price/Sales-

Industry PE-

Sales₹547.34 Cr

Profit After Tax₹53.15 Cr

Share Capital₹22.58 Cr

Shares Outstanding-

ISININE528I01015

SectorInnovative technology

SymbolSPRAYENGG

About Company

Strengths

Intellectual Property: Additionally, SEDL possesses a range of intellectual assets both domestically and internationally, providing the company with a competitive edge over its industry peers.

Experienced Promoters: The company’s promoters bring nearly three decades of industry experience, gained through their involvement with SEDL and previous roles in the sugar sector.

Weaknesses

Increased Debt: Current liabilities increased, including a rise in borrowings, which may imply dependence on debt for capital, potentially impacting liquidity.

Dependence on Specialized Industries: The focus on sugar and allied industries may expose SEDL to sector-specific risks, such as fluctuations in demand for sugar processing equipment.

Annual Reports

FY 2022 FY 2024

Balance Sheet	FY2024	FY2023	FY2022	FY2021
Equity Capital	22.58	22.58	22.43	22.43
Reserves and Surplus	100.69	48.32	14.76	-0.56
Total Equity	123.27	70.90	37.19	21.87
Long Term Borrowings	20.99	22.45	4.51	3.23
Other Long Term Liabilities	10.138	5.12	3.30	2.66
Total Non-Current Liabilities	31.128	27.57	7.81	5.89
Short Term Borrowings	54.26	36.35	14.60	19.89
Other Current Liabilities	93.52	129.35	124.76	77.29
Total Current Liabilities	147.78	165.70	139.36	97.18
Equity + Liabilities	302.17	264.17	184.4	124.94
Fixed Assets (incl. WIP)	91.99	67.53	26.95	24.13
Other Non Current Assets	5.63	8.77	2.54	5.41
Total NC Assets	97.62	76.30	29.49	29.54
Trade Receivables	86.8	60.08	42.90	30.59
Cash and Bank Balances	0.41	1.40	11.05	5.3
Other Current Assets	117.34	126.39	31.85	59.51
Total Current Assets	204.55	187.87	154.88	95.4
Total Assets	302.17	264.17	184.4	124.94

Profit & Loss	FY2024	FY2023	FY2022	FY2021
Net Revenue	547.34	392.62	214.94	110.69
Growth %	39.41%	82.66%	94.18%	0
Total Operating Expenses	459.12	335.88	193.17	98.38
Growth %	36.69%	73.88%	96.35%	0
Operating Profit	88.22	56.74	21.77	12.31
Operating Profit Margin %	16.12%	14.45%	10.13%	11.12%
Other Income	0.93	2.11	1.17	0.75
Finance Costs	9.89	8.07	5.05	5.92
Depreciation and Amortization Expense	4.93	3.85	2.13	2.47
Profit before Tax	74.33	46.93	15.76	4.67
Income Tax	21.18	12.21	0.43	0.02
Tax %	28.49%	26.02%	2.73%	0.43%
Profit After Tax	53.15	34.72	15.33	4.65
Growth %	53.08%	126.48%	229.68%	0
PAT %	9.71%	8.84%	7.13%	4.20%
EPS	23.19	15.21	6.79	2.06

Shareholding Pattern

Color	Shareholder	Holding
	Vivek Verma	53.99%
	Prateek Verma	26.31%
	Klondike Investments Ltd.	12.50%
	Others	7.20%

Board of Directors

Vivek VermaManaging Director

Prateek VermaWholetime Director

Rinkal GoyalCompany Secretary

Manoj GuptaCFO

Ashok KumarDirector

Tara Chand MeeniaDirector

Shridhar VenkateshNominee Director

Senior Management

No senior management information available.